Sir, It’s surprising to hear Tesco plans to launch high-end Finest stores, so soon after challenging the discounters with Jack’s.
However, unless Tesco has adequately appraised what Finest means in today’s cultural context, it may see history repeat itself.
Today’s shopper has a nuanced understanding of luxury - and monikers like Finest fall into the trap of telling the consumer, instead of showing them.
Consumers expect tangible indicators of quality through provenance, craftsmanship and environmental action. We’re already seeing this in action, with Waitrose’s Unpacked trial to reduce plastic.
It seems Tesco has a decision to make about what it wants to be, and for whom.
Consumers are increasingly adopting a ‘high-low’ approach to shopping as they search around for both the lowest prices and upmarket experiences, dependent on need. If Tesco continues to fracture its brand without proper consideration, it may damage its relevance.
Alex Gordon, CEO, Sign Salad